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Riedel extends high-grade US gold targets

Arizona focused junior gold explorer Riedel Resources has extended the high-grade Tintic gold-silver deposit at its Kingman gold project. The company plugged an extra four drill holes into the prospect at the tail-end of the recently completed drill program after recognising the potential for the shallow mineralisation to carry on along strike.

Samples rushed in for assaying have returned 3m going 3.44 grams per tonne gold from only 16.8m downhole that included 0.8m coming in at an impressive 12.73g/t gold, 30g.t silver and 3.5 per cent lead.

Other notable intercepts include 2.3m at 3.04g/t gold and 47g/t silver from 24.4m with an internal 0.8m chiming in at 7.04g/t gold, 102g/t silver and 2.5 per cent lead.

Assays from the original 33-hole reverse circulation program are expected to be received in June.

We are excited about these first assay results which again extend the highly mineralised Tintic zone.

A total of 37 holes were completed at Tintic during the company’s third drilling program since acquiring the prime Kingman real estate in October 2020. Drill holes were designed to chase multiple near-surface high-grade gold and silver intercepts at the prospective Tintic mine area where previous drilling has coughed up 3.8m at an eye-catching 98.9 grams per tonne gold – or more than 3 ounces to the tonne – and 151g/t silver from just 20.6m down hole.

Mineralisation at Tintic is reportedly contained within shallow, flat-dipping veins that comprise varying amounts of quartz, clay and sulphide mineralisation.

Modelling of the Tintic drilling to date shows the high-grade system to be at least 600m long and currently remains open along strike and at depth.

Tintic lies within Riedel’s larger Kingman project area that was something of a mining hub for high-grade gold and silver from the 1880s until the early 1940s.

Precious metal production was sourced from a quartet of mines not far from the town of Chloride – Tintic, Merrimac, Arizona Magma and Jim’s, all of which fall within Riedel’s Kingman tenement holdings.

Interestingly, Riedel says very little modern exploration has been undertaken over the tenure that didn’t feel the bite of the drill bit until the 1990s.

Extensive nearby infrastructure exists around the Kingman project area with year-round project access located approximately 5 kilometres from a major highway.

A plethora of operating gold mines and milling operations also exist within stone’s throw of Riedel’s Kingman tenement holdings providing possible access to easy toll-treating options.

With assay results outstanding from the last 33 drill holes, Riedel looks to be on the verge of defining a mineral resource in the mining-friendly jurisdiction of Arizona.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au

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